According to William Safire, “helpfulism” is basically protectionism.
Answer the following statement true (T) or false (F)
True
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If a new method for obtaining oil from dry oil fields is found, then we will see:
a. the AS curve shift to the left. b. a movement to the left along the AD curve. c. the AD curve shift to the left. d. the AD curve shift to the right. e. the AS curve shift to the right.
According to Alan Greenspan, the type of inflation that the Taylor Rule is best at addressing is
A) asset-price inflation B) product-price inflation C) both asset-price and product-price inflation D) demand-induced-one-shot inflation E) supply-induced one-shot inflation
Kathleen likes avocado and crab dip. After eating avocado and crab dip with four crackers, she switches to cheese with crackers. We can conclude that
A. at this point cheese and crackers have a higher marginal utility per dollar spent than that of avocado and crab dip with crackers. B. the avocado and crab dip cannot have tasted that good. C. the avocado and crab dip with crackers now has a marginal utility of zero. D. Kathleen is no longer maximizing her utility.
A price setter is a firm that:
A. attempts but fails to be perfectly competitive. B. faces perfectly inelastic demand. C. has the ability to set price at any level it wishes. D. has some degree of control over its price.